"Romania Petrochemicals Report Q2 2015" now available at Fast Market Research
New Energy market report from Business Monitor International: "Romania Petrochemicals Report Q2 2015"
[USPRwire, Fri Feb 20 2015] Following Romania's repeated attempts to privatise petrochemicals producer Oltchim in 2014, the company's receivers are now looking at restructuring to make it profitable. BMI's latest Romania Petrochemicals Report states that the process is likely to involve some reduction in capacity in order to improve profitability in the country's small and ailing petrochemicals sector.
In 2014, Romania had modest olefins capacities of 200,000 tonnes per annum (tpa) ethylene and 100,000tpa propylene feeding capacities totalling 320,000tpa polyethylene and 80,000tpa polypropylene. Romania also has 60,000tpa polystyrene and 170,000tpa polyvinyl chloride (PVC). As such, the industry is small and lacks economies of scale to compete with foreign producers. Also, it is constrained by the problems at Oltchim, caused in large part by the closure of the Arpechim refinery that fed it naphtha feedstock.
* The local petrochemicals market is growing fast, sucking in imports. In 10M14, rubber and plastic production grew 7.0% year-on-year (y-o-y), but still struggled to keep up with strong performance in intermediate industries that supply the country's growing automotive producers and other sectors.
* BMI forecasts strong growth in petrochemicals consumption over the next two years, although it will be influenced by domestic trends due to sluggish demand in the eurozone. In 2015, we forecast a 6.7% increase in total vehicle production, although this is less than 7.5% estimated in 2014. However, by 2018 automotive output will be around 37% up on 2013 as plants expand capacity. As such, Romania holds significant growth opportunities for chemicals and plastics exporters from other countries in Europe, particularly given the constraints and problems facing domestic producers.
* Romania ranks 14th in BMI's Europe Petrochemicals Risk/Reward Index (RRI), scoring 44.7 points out of 100, down 0.1 point since the previous quarter due to a slight decline in its country risk scores. The failure to...
The Romania Petrochemicals Report has been researched at source, and features Business Monitor International (BMI)'s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services, sales, market share, investments, projects, partners and expansion strategies.
BMI's Romania Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Romanian petrochemicals industry.
Key Benefits
* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Romanian petrochemicals market.
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